This document outlines 8 lessons learned from building Xero into a $2 billion company. It discusses how exponential growth in computing power and technology is disrupting entire industries. The first lesson is to go after a big market like small businesses, which are important to every economy. The second lesson is to have a mission focus of improving the small business economy. The third lesson is to create software experiences that people love using. The remaining lessons discuss the importance of hiring great employees, partnering strategically, getting product basics right before expanding, influencing other influencers, and attaching to a major brand.
8. Early adopters eat the late comers
Innovators Early adopters Late majority LaggardsEarly majority
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9. Blockbuster → Netflix
Borders → Amazon
Yellow Cab → Uber
Tower Records → Spotify, Pandora
ABC → Hulu, Amazon video
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10. Smartphone shipments dwarf PCs
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Mar 95 Mar 97 Mar 99 Mar 01 Mar 03 Mar 05 Mar 07 Mar 09 Mar 11 Mar 13
QUARTERLY UNIT SHIPMENTS
PCs
iOS & Android
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28. @Xero is just fantastic. So many
problems, solved. Done. Love it. I’m
actually enjoying getting ready for taxes.
@peeja
After setup & training on Friday,
the meeting ended w/ the client saying,
"I looovvveee Xero!" #xerolove
@WFUDeac
Just asked another client how they
are enjoying their new @Xero file.
They said "they don't like it, they love it"
@kmiddlemis
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29. I would rather face root canal
surgery with no anaesthetic
than do bank reconciliations.
“
DEVAN SABARATNAM
@sutherlandjamie
31. Xero however, actually makes bank
reconciliations fun!
There is an almost 'game' like quality
to the whole process, and I am actually
disappointed when it is all done.
“
DEVAN SABARATNAM
@sutherlandjamie
32. Lesson 4: if you hire clowns,
you’ll end up with a circus
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